The Prof
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Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.
The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market.
In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.' gross domestic product but reduces the value of the dollar.
In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said.
US Credit Rating Cut by Egan-Jones ... Again - US Business News - CNBC
bernanke's a bonehead, he's obamite
bernanke backfired
he's already done 2.7T---if it worked in the first place, why do it again?
if it didn't work, why do it again?
romney is stumping on it---no more pump
Romney: QE3 Shows Obama's Economic Policies Are Wrong | RealClearPolitics
all the more reason not to vote for obama
moody's announced this week that unless a major budget resolution is reached presently between executive and legislature, a further downgrade would result there as well
Moody’s Text: To Downgrade US If No Deal To Cut Debt/GDP Ratio | ForexLive
bob woodward, the greatest journalist (according to them) alive and maybe ever, has his new book out, the price of politics
it tells the story of a president temperamentally unsuited to lead consensus
at the most crucial juncture of the debt ceiling debate, july, 2011, with the full faith and credit, et al, at stake, the president was "voted off the island" by the congressional big 4, led by harry reid and his courageous chief of staff david krone
that is, in order to avoid default, reid, mcconnell, boehner and pelosi felt they had to "ask the president to leave the meeting he called in his own house," july 24, 2011
"that was it, congress was taking over"
A president sidelined - The Washington Post
america needs a president who conceives a politics more expansive, one that appreciates that political success derives not from day-to-day election tactics, in-the-moment maneuvering, kick and counter kick
real and lasting presidential success, instead, comes from the large achievement of solution to large problems---and the problems we face these troubling days, at home and abroad, are immense
bernanke's gotta go
there's only way that can happen
Romney Reiterates He Would Replace Bernanke - Washington Wire - WSJ
read woodward, wapo's watergate wonderboy---you will find it very hard to justify a vote for barack obama